Around 44% of Australians have no life insurance outside of what sits inside their super fund. Of those who do have some cover, a significant portion are underinsured to a degree that would leave their families in serious financial difficulty. Research from Rice Warner, cited by the Financial Services Council, has estimated that the average Australian family has life insurance cover equal to only about 61% of what they actually need. That gap does not feel abstract when you start putting real numbers to it.